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Albany, New york, April 04, 2019 (GLOBE NEWSWIRE) -- The global water purifier market holds a highly competitive and fragmented vendor landscape, says Transparency Market Research (TMR) in a recently published report. This is solely because of the market is experiencing a rise in the level of competition among large, medium, and small-scale vendors. Unilever N.V., GE Appliances, Eureka Forbes Ltd., and Tata Chemicals Ltd. are the dominant players working in the global water purifier market.
The players in the global water purifier market are concentrating on the development and launching of innovative products. Such key strategies are adopted by players for supporting the market growth as well as enhancing their market penetration globally. Along with this, market players are focusing on acquiring strategic partnerships and collaborations for expanding their geographical reach. This strategy ensures a rapid growth in the global water purifier market. Furthermore, larger players in the market are spending expenditures on marketing activities and advertising. Therefore, they are targeting to attract a large number of consumers across the world. These players are also attempting to introduce advanced and new products into the industry on a daily basis.
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According to experts from TMR, the global water purifier market was worth US$53.36 bn in 2016. This revenue is expected to gain an impressive value of US$110.02 bn by the end of 2025. Experts project this growth to occur with an impressive CAGR of 8.40% during the forecast period from 2016 to 2025.
Among various technologies in the global water purifier market, RO purifier holds substantial share, which is expected to fuel growth in the global water purifier market during the forecast period. This is because of rising water pollution levels along with the enormous demand for safe and clean water for consumption. Region wise, Asia pacific is expected to lead the global water purifier market in the coming years. This is attributed to a mushrooming industrialization and urbanization along with rapid adoption of new technologies in the region.
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Rising Awareness about Consuming Clean and Healthy Water Provide Impetus to Market
Water purifiers mainly help in removing adulterations from water with the support of a physical barrier, biological process, and chemical process. Decreasing quality of water has become an important concern as it causes serious health problems. Thus, the global water purifier market is gaining traction, owing to an awakening towards healthy living. Additionally, scantiness of potable water is also otherwise pushing national governments for providing pure and clean drinking water to the populace. Such factors are contributing growth in the global water purifier market.
Furthermore, rapid industrialization across the globe is responsible for contaminating water bodies, hence depleting fresh and clean water resources. Thus, the dire need to have water purifying systems across commercial units, households, and industries is rising day by day. This factor is also boosting the global water purifier market. Along with this, rising incidences of various diseases such as typhoid, cholera due to consumption of contaminated water is also fueling demand for water purifiers. Such factors are propelling expansion in the global water purifier market.
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Low Penetration Rate of Water Purifier May Hamper Market’s Growth
Rising demand for packaged water and low penetration rate of water purifiers appear as a big challenge in the growth of the global water purifier market. Nonetheless, increasing pollution levels and rising growth opportunities from developing regions are expected to enhance the growth in the global water purifier market in the future.
The review is based on a market research report by TMR, “Water Purifier Market (Technology - Gravity Purifiers, RO Purifiers, UV Purifiers, Sediment Filters, and Water Softener; End-User - Industrial, Commercial, and Household; Accessories - Pitcher Filter, Under Sink Filter, Shower Filter, Faucet Mount, Water Dispenser, Replacement Filter, Countertop Filters, and Whole House Filters) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”.
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The segmentation of global water purifier market is based on:
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